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Money Laundering Questions

Money laundering refers to concealing money that was gained by illegal means such as prostitution, gambling, and drug trafficking are just a few of the ways money can be laundered. While the money is gained illegally, the money is then put into legal businesses so to all outward appearances, the money earned through the business is legitimate. Take a look at the money laundering questions below that were answered by Experts.

What is money laundering?

Money laundering is the act of acquiring money from illegal activities and covering the origins of the money by having a legitimate business. For example, someone earns large amounts of money by operating an illegal gambling hall and opens an honest business and puts the illegal money into the honest business. To all outward appearances, it looks like the criminal is operating a legitimate business and is doing well.

How can a person convicted for money laundering obtain employment?

Generally, a person would consult with a criminal Defense Attorney who is familiar with expungements. When people have their records expunged, most background checks won't reveal a conviction. Another plus to having your record expunged is you could honestly say you have no convictions. Another option would be to look at jobs that usually don't require background checks. While most of these jobs aren't the best, it gives a person an opportunity to make money.

You could always consider starting a business. You could be your own employer and skip the background check altogether. If you have a business in mind, you may want to check on the licensing before you start. You want to make sure money laundering wouldn't bar your chances of acquiring a license.

Some people set out to better themselves and focus more on what they can do for the community instead of what the community can do for them. By volunteering or donating time to charities and the less fortunate, many people put a huge gap between the person they used to be and the person they are now. Going back to school to improve an education or learn special skills is also another way of self improvement. All of these options help a person move forward.

How is money laundering connected to a number of other criminal activities?

Prostitution, embezzlement, bribes, and illegal gambling are just a few of the crimes related to money laundering. Organized crime is notorious for earning money through these types of crimes and sifting the money through legal "storefronts" as a way of hiding the illegal activity. By laundering money, the criminal activity can continue and flourish. Racketeer Influenced and Corrupt Organizations act (RICO) makes any activity which screens or hides criminal activity illegal.

I am possibly under money laundering investigation. I was changing good US checks into US dollars overseas until my Bank closed my accounts. I'm in Israel, what can I do?

Usually Israel won't extradite one of their citizens. If you are a US citizen in Israel, that may be a different situation. If you are a foreigner living in Israel, you could possibly face prosecution in Israel for crimes that you have committed overseas. While you may have some protection by being in Israel, you should handle the matter now before it worsens.

If you are being investigated in the US and the authorities are searching for you, you should consider retaining a US attorney. The attorney can look into the situation, ensure the right things are said to the authorities, and possibly clear the mess up before it goes any further.

Money laundering is illegal and can create a landslide of legal issues if a person gets caught. Not only will the legal ramifications affect a person for the rest of their life, the chances of a normal life will become a burden, especially when the person tries to find employment. If you have questions regarding money laundering, you should ask an Expert.

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